SEOUL, Nov 25 (Reuters)– South Korea’s Hyundai Merchant Marine Co Ltd (HMM) stated on Friday it was selected as recommended prospective buyer to acquire a port terminal in Algeciras, Spain, partially possessed by Hanjin Shipping Co Ltd.

HMM stated in a declaration it is anticipated to settle its acquisition of an one hundred percent risk in Total Terminal International Algeciras in late December from the existing proprietors, consisting of IBK Securities Co Ltd, without specifying on rate or various other sales terms.

Representatives of Hanjin Shipping as well as IBK Securities might not promptly be gotten to. (Reporting by Joyce Lee; Editing by Stephen Coates)

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